Fan Yifei: Key systems, such as the digital renminbi system, will gradually improve.

On October 20, 2021, Fan Yifei, Vice President of China Corporate Governance Corporation, attended the annual meeting of the Chengfang Financial Technology Forum 2021 Financial Street Forum and delivered a speech.

He said in a statement that the close integration of finance and technology has brought new results, the establishment of digital financial infrastructure is more necessary and more technologically advanced. The digital yuan system Importantly, the process is gradually being improved to facilitate changes in the financial system and better financial distribution.

Below is a list of quotes.

Visitors from home and abroad,

Good night everybody! We are delighted to attend the annual meeting of the Chengfang 2021 Financial Street Forum. The content of the "14th Five-Year Plan" clearly provides for the development and expansion of the FinTech Improvement Plan in the new period by "continuing to promote sustainable spending." delay and accelerate the digital transformation of financial companies ”. The Company shall, in accordance with the decisions and plans of the Party Central Committee and the State Board of Directors, adhere to the development, supervision and cooperation, plan and direct the financing of enterprises and fulfill its role with the human heart in mind. Work for real business, fulfill the role of two-wheel drive of data and technology, and continue to support financial business, improving efficiency to strengthen the economy in the development of new development models. Below, I'll provide some information about meetings and how they work, giving you some information to use.

1. Heavy work,

Close the integration of finance and technology to achieve new benefits

Knowing history is good, so hold onto the past and open up to the future. Looking at the "13th Five-Year Plan", the financial sector adheres to the concept of development at the forefront of innovation, focusing on "Six Stability" and "Six Guarantees", all in accordance with approximately three years for development. financial technology, and we use research and technology to improve the quality and efficiency of financial services.

First, the management structure, operational management and procedures of financial institutions have been continuously improved. The twelve state-owned enterprises and some professional companies The giants of security and insurance have created technology companies one after another with more technological and technological changes, and continue to trigger a dynamic of innovation.

Second, the export of digital financial infrastructure is more affordable and technology has developed, as well as key infrastructure such as network clearing platform, renminbi cross-border payment system, information system on deposit insurance, digital renminbi system, etc. . Facilitate the transformation of financial systems and financial resources. efficient configuration.

The third is the deepening of financial services with technologies such as big data, cloud computing and intelligence. , returned to work and created ordinary people, especially in times of epidemic. The daily life of providing financial services has not kept pace and the heat.

Fourth, the technology industry management system has been gradually developed and improved, new management equipment has been promoted and used nationwide, and more than 130 "new applications" in 34 exports have been effective, improving the level of digital financial services. I do.

Generally speaking, during the “13th Five Year Plan”, Korean fintech can take root in the fertile lands of a truly prosperous and prosperous economy based on a justice and development system. Based on the need for diversity and general competition, we strive to take advantage of the best financial markets in the world.

2. Research and decision making;

Identify the new direction of digital financial transformation

Globalization is still expanding, the external environment is still burdensome, and the development of technology and digital commerce has become an important driver of social change, energy and good growth. At the same time, issues such as chaotic expansion of capital, business monopoly and data abuse have become essential in the business platform. Faced with the new situation, we must adhere to the goal-oriented and problem-oriented approach, follow the development, identify the direction of our efforts, clearly show the level of the goals, and firmly focus on improving the needs of digital, intelligent , green. , a fair and rapid digital transformation of finance.

(1) Continuous digital drive. Important data has become an integral part of communication and digital technology has great potential for innovation. Both integrate existing financial services that can be effectively "leveraged" through the use of development programs and trading models. Financial companies must identify new trends in digital business development, inject digital content into the whole process of financial services and integrate digital concepts in all industrial sectors to strengthen and realize the development of scientific research and research. technological weapons of financial innovation. . All the energy and major challenges of the Korean economy. At the same time, we must adhere to the concept of improving safety and use digital means to continuously improve the functioning of risk identification, monitoring, assessment and alerting. . ecosystem. We offer a good guarantee for the good development of the financial industry.

(2) Strive for intellectual development in people. The major conflicts in our lives have become the conflicts of people's desire for a better life, poor development and insufficiency. To this end, the financial industry should honestly adhere to the theme of the present, seize new opportunities for intellectual development, a deep understanding of the use of smart devices in human finance, and strive to realize the wisdom of the whole chain . A new form of financial intelligence that provides human services, convenience, and a wide range of financial services has improved people's satisfaction and happiness.

(3) Adhere to green and low carbon. Support for green, low-carbon and sustainable growth is a key role given to funding by the Board of Directors and the Council of State in the new era. Achieving our peak carbon and average carbon target requires further development. To this end, we must develop the concept of green improvement, strengthen the deepening of financial and cash flow, innovation and pre-cash development. , and strive to improve the benefits and accuracy of financial support for green businesses.

(4) Be fair and cooperative. The main objective of the development of financial instruments is to provide fair, transparent and profitable financial services to consumers and to streamline the flow of funds to all real places of activity. To realize this first hope, we always focus on integrating the principles of justice and use science and technology to support the level of business financing, improve financial products and promote access to public services. for. Provide financial support and bridge the gap between regions, groups and communities. The digital distribution of schools allows the benefits of the use of technology to reach people in broader, deeper and more equitable ways.

Third, go ahead,

successfully serves a new goal of fintech improvement

Recently, Secretary General Xi Jinping (習近平) pointed out in a central Politburo study group that technology and digital commerce are opportunities for global science and technology. competetion. We must seize the opportunity and hold the key to future development. . During the "14th five-year plan", the financial sector must adhere to a new stage of development, adopt a new development strategy, apply it according to financial information, and support in order to modify the structure of the financial equipment. . , focusing on the digital transformation of financial companies, promoting the transformation of Korean financial technology from "pillar" to "collecting power" and helping the economy and the same people achieve digital intelligence.

(1) Improve financial management technology. Managing technology is key to expanding digital financial transformation. Financial firms must seize this "harassment" and support the enormous potential which constitutes the main productive force.

One is to improve management standards today. Strengthen the design of advanced management, develop and improve all industrial-level integrations, establish digital transformation, clarify the concept and method of the "second development curve" and implement the management process as a leader. establish coverage. Management of design decisions, operations, testing and installation of closed equipment.

The second is to supplement digital skills. Develop digital thinking, promote digital culture, create innovative designs with cutting edge technology, rapid R&D, channel integration, precise decision making and good operations, know how to optimize the entire value chain and everything, and develop modern financial services. Complement the reinforcement of the importance of competition between consumers and the direction of processes and businesses in the digital age.

Third, strengthen the development of financial justice facilities. Achieve good governance with a combination of innovation and risk prevention, integration of reception and self-regulation processes, multi-hand participation and joint management. Financial institutions must fulfill their vital role in the management of research and technology, by establishing a consistent operating system that leads to ethical review and disclosure. Integrity Intervention, Self Defense Deficiency at Work We must learn to work well, promote knowledge, acquire knowledge about research and technology, and make decisions against bad behavior.

(2) enable new power for digital work; Digital transformation is a difficult and time-consuming process that requires financial companies to drive innovation and change throughout their manufacturing and operating processes and the entire supply chain.

One is to create a new agile development. Research on industrial cooperation and cooperation and cooperation, exploration of cooperation, cooperation and cooperation together, create new models such as digital factories, innovation labs, etc., create and improve the commercial grade. Innovation and risk-reward trial and error tolerance mechanism, accelerated to create innovation incubation and simple application system that deals with safety and efficiency.

The second is the integrated functioning of central offices. Design simple, easy-to-use technology environments using low-speed, high-integration integration, providing assistance and support for customization, as well as design and support. business information in the information industry, creating a modular, customizable and reusable business platform to facilitate the evolving business needs of the digital commerce era.

The third is to improve automated risk management mechanisms. Use big data, intelligence and other technologies to identify relevant information and transmission to improve estimation and estimation of the fate of risk management, clarify relationships, learn and make modifications for change emergency situations and complete a dynamic capture and analysis phase. The transition of risk management from "human protection" to "technology protection" through the use of early warning of the risk of change, change is unhealthy and unreliable, then use digital means to block trade, correct malfunctions and other guarantees. "Management skills".

The fourth is to strengthen digital business intelligence. Adhere to the principles of consumer data intermediary management and production costing, develop business processes in industry, explore partnerships and market-based models. such as extensive training, knowledge of graphics and other technologies, and the application of the best techniques to improve the lives of consumers. tsim. In the cycle of moving from passion to diversity and people, easy marketing services increase the number of recipients, to retain and to retain.

(3) Accelerate funds supports insurance of intelligence. Reduced market and maintenance, actual communication, the resources co-workouted operation of the service process. About Service Services, improve interactions of the bank and neighborhoods that one of the services is only once. Digital Digital Digital Republication, Light weight, and the recovery. The Internet of the Internet of Internet Technology is human, user. , People, people, products, mixs and "infinite" financial channel financial feature. From the views of service services, small work, and an assymetric material environment, and promote support for efforts.

(4) in-depth use of a wide range of cognitive skills; President Xi Jinping spoke of the need to improve skills and procedural oversight as well as integrated oversight and management across the entire innovation, manufacturing, operation and investment process. In the age of the digital economy, financial exchanges have become more complex and diverse, and financial risks have become more hidden. Using good management skills is the “key to problem solving,” which emphasizes the relationship between safety and efficiency and the pursuit of financial literacy.

The first is to lay the groundwork for using tracking skills. Use good language processes, standardization and other technologies to establish policies and procedures, establish technology governance practices that support the development of technology. Improve performance monitoring and reduce costs based on referrals and risk alerts.

The second is to improve the home of digital capital surveillance. Establish professional risk management authorization and management, create and manage financial data, risk assessments and business risk evidence based on 'mutual co-creation, collaborate and share', and improve collaborative prevention processes and risk management. Promotes prevention and risk management.

The third is to strengthen financial appetite and risk for electricity. Accelerate the export of security analysis and compliance monitoring procedures of standardized intelligence algorithms, expand the decision-making process, operational logic and fear of sufficient capacity, and improve translation, transparency and l integrity of algorithms. Strengthening cloud computing standards and security management, cloud computing modeling for financial institutions, bad reputation, passion and mitigation of payment risk to strengthen central management and control of other electrical devices to prevent external air conditioning services to occur.

(5) Establish an open and new business ecosystem. Fintech innovation is inextricably linked with the mutually beneficial, collaborative, open and inclusive environment, and the financial need to promote exchange and collaboration with open thinking and action, while continuously improving the capacity of technology to develop. 'self-innovation.

The first is to promote collaborative research. Play a key role in financial institutions in innovation, play a vital role and benefit large financial institutions, using the "level of disclosure" and "competition" process, and make progress and research on the basic software. and technology in finance, the ease of use of fintech technology, resources and services are presented and shared.

The second is to facilitate the docking of production and use. Establish a unique home platform for each technology industry, create new organizations such as an open community, expand the allocation of capital for the exchange of application benefits and the application of the research concept of mortgage and insurance lending and new technologies to support performance conversion Provides aspects of research and technological achievements Activate the "last mile" of performance change by connecting to support needs.

The third is to deepen global trade. Integrate into a global innovation network, strengthen global exchanges and collaborations in technology development, increase innovation through internal and external expansion, R&D collaboration, integration and technology industry , and the integrated design, perseverance in technology and global management, and experience the basic technological advances the global distribution of patents in key areas such as the global advancement and application of the achievements of research and technology, and promotes the development at all stages of financial technology development.

Guests from here and elsewhere, women and men! The “14th Five-Year Plan” is a period of historic unification of our three “200 years” and an important time to open a new way to build a strong nation today. "Everything has its life, everything in its own way." We must deeply understand all the development of the exchange of ideas, improve the direction of the economy to a new level, start the path of financial digitization according to Chinese models and models around the world, and help us to enter a new era. Success!

Finally, I want to end this forum. Thank you.